Equities research analysts predict that Cadence Bancorp (NYSE:CADE) will report sales of $120.97 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cadence Bancorp’s earnings, with the lowest sales estimate coming in at $115.50 million and the highest estimate coming in at $122.90 million. Cadence Bancorp reported sales of $108.29 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The company is expected to issue its next quarterly earnings results before the market opens on Monday, October 22nd.
According to Zacks, analysts expect that Cadence Bancorp will report full year sales of $490.71 million for the current year, with estimates ranging from $478.60 million to $519.40 million. For the next financial year, analysts forecast that the firm will report sales of $742.28 million, with estimates ranging from $524.26 million to $814.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Monday, July 23rd. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The firm had revenue of $120.10 million during the quarter, compared to analyst estimates of $119.49 million. Cadence Bancorp had a return on equity of 11.24% and a net margin of 24.49%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS.
In other Cadence Bancorp news, Chairman Paul B. Murphy, Jr. sold 275,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.41, for a total transaction of $7,537,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Valerie Toalson sold 25,160 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $27.41, for a total value of $689,635.60. Following the sale, the insider now owns 11,608 shares in the company, valued at approximately $318,175.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 401,103 shares of company stock worth $10,994,233. Company insiders own 0.09% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Neuburgh Advisers LLC boosted its stake in shares of Cadence Bancorp by 104.7% in the second quarter. Neuburgh Advisers LLC now owns 5,568 shares of the company’s stock worth $161,000 after buying an additional 2,848 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Cadence Bancorp in the second quarter worth about $165,000. Riverhead Capital Management LLC boosted its stake in shares of Cadence Bancorp by 106.7% in the second quarter. Riverhead Capital Management LLC now owns 6,201 shares of the company’s stock worth $179,000 after buying an additional 3,201 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Cadence Bancorp by 609.9% in the first quarter. Royal Bank of Canada now owns 6,389 shares of the company’s stock worth $174,000 after buying an additional 5,489 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Cadence Bancorp in the second quarter worth about $211,000. Hedge funds and other institutional investors own 67.69% of the company’s stock.
Shares of CADE stock opened at $25.91 on Tuesday. Cadence Bancorp has a 1-year low of $21.81 and a 1-year high of $31.44. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.18 billion, a P/E ratio of 17.51 and a beta of 0.54.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, August 31st. This is an increase from Cadence Bancorp’s previous quarterly dividend of $0.13. Cadence Bancorp’s payout ratio is presently 40.54%.
Cadence Bancorp Company Profile
Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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